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Myriad Genetics, Inc. (Nasdaq: MYGN)

Myriad Genetics, Inc. (Nasdaq: MYGN)

Myriad Genetics is a medical diagnostic company that produces a number of molecular diagnostic and therapeutic products for the health care sector. The company reached a new 52 week high today with the market falling close to 5%.

2nd Quarter Earnings

The Salt Lake City Utah company reported second quarter earnings last Tuesday and has been running since. The company earned 43 cents a share when analyst were expecting 32 cents a share. Revenue for the company grew 49% while revenue in the diagnostic area rose 58%. In this one specific area, the profit margins also expanded to an outstanding 87%. IBD has written lately about the company in detail if you are looking for additional company earnings history.

Future Earnings

The company's future earnings also look solid with analyst increasing their projections for the current quarter, the next quarter and the year. Year over year yearly expectations are now for earnings of $1.93 a share compared with prior earnings expectations of $1.42 a share. Revenue is also expected to continue to expand with a 46% increase for the current quarter and a total of a 3% increase for the year.

The Trade

Slightly overbought at this time, look for an opportunity for larger positions or build a small position now with a 5% trailing stop.